LAMB technical analysis

LAMB seen from the temporality of 1W we can observe as the price could form a structure of continuation bullish, the best figure represents a descending wedge in which we see as the price has formed minimums each time closer, signal of a close change of tendency, we must be attentive to the support located in the 0.00001111 indicated in the graph by a horizontal green where the price should arrive and find demand that can drive the price up, the current weekly candle is bearish, it is still early to know how it will end at closing, however, the price has not yet touched support, so we should wait for the price to drop a little more.

LAMB seen from the 1D temporality we can observe more closely the current movement of candles within the descending wedge, once reached the support, the price could follow a trajectory as I have drawn in the chart above, our profit target is located within the price range of 0.00002044 – 0.00002134, indicated in the graph by the two horizontal red color, reached that point the price could fall quickly or form an HL above the point EQ and look for the break up, otherwise the price would seek again the support with probabilities of breaking down.

In conclusion, LAMB has had a slow decline in the price within the major figure since mid-July and we are close to a reversal movement, so we should be aware of the reaction of the price in 1D as we approach the support at 0.00001111 to look for the best trading position, the price should not close below the diagonal support of the major figure, if this happens the price should fall much more, but if you get a rebound forming an HL, the chances of reaching our goal will be high, I recommend following the action of the price of this currency very closely and always trade with stop loss, the percentages of loss and gain are high, so the risk is much greater.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

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